A new partnership will soon see a major green iron hub opening its doors at Gladstone, Queensland.
Quinbrook Infrastructure Partners has entered the development phase of its proposed green iron project, which will involve testing of the major Eulogie magnetite deposit in central Queensland.
Exploration permits for the deposit are held by Quinbrook’s partner, Central Queensland Metals (CQM), and is touted to be the largest known deposit of its kind in the state.
Quinbrook managing director and regional leader Brian Restall welcomed the next stage of the project.
“This is unquestionably an ambitious project that directly addresses the hopes for Australia’s manufacturing renaissance,” Restall said.
“Whilst in its early stages, we believe the project has the potential to create a significant new infrastructure investment and export opportunity in the same way that Queensland’s coal seam gas resources have already done.”
The Eulogie resource is a vanadiferous titanomagnetite ore deposit located 70km west of Gladstone, estimated to contain 465 million tonnes of ore.
The deposit is anticipated to have the potential to support a resource more than double this amount after further exploration work is undertaken by CQM supported by Quinbrook.
“Quinbrook has built a reputation for devising differentiated investment strategies that create the new infrastructure assets needed to progress the energy transition,” Restall said.
“With Gladstone Green Iron, we are using our long-established project development DNA to identify unique industrial sites that can host new green manufacturing and processing industries benefitting from globally competitive operating costs including Quinbrook supplied renewable power.”
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